Category: Fines

SFC fines
March 05, 2018 BY LeapRate Staff

Deutsche Bank FX trader Guillaume Adolph fined and banned by the FCA

UK financial regulator the Financial Conduct Authority (FCA) has announced that it has fined Guillaume Adolph £180,000, and banned him from performing any function in relation to any regulated financial activity. Mr. Adolph formerly worked at Deutsche Bank AG (FRA:DBK) as a short-term interest rate derivatives trader, trading products referenced to CHF (Swiss Franc) and JPY…

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iforex fined cysec
February 20, 2018 BY Valentina Kirilova

CySEC fines iForex parent company ICFD Ltd €138,000

The Board of the Cyprus Securities and Exchange Commission (CySEC) has informed the public that, at the meeting held on 13th November 2017, it has decided to impose a total administrative fine of €138.000 to CIF ICFD Ltd for non compliance with several issues (see below). ICFD Ltd operates the iForex Retail FX brokerage brand.…

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SFC fines
February 14, 2018 BY Valentina Kirilova

SFC reprimands and fines Interactive Brokers Hong Kong Limited $4.5 million

The Hong Kong Securities and Futures Commission (SFC) informed that it has reprimanded and fined Interactive Brokers Hong Kong Limited (IBHK) $4.5 million after resolving concerns over IBHK’s breaches of the Code of Conduct in its execution of market orders using electronic and algorithmic trading systems. The SFC’s disciplinary action followed two market disruption incidents…

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CySEC fine
February 09, 2018 BY Valentina Kirilova

CySEC fines Chesterfield Corporate Services Ltd €20,000

The Board of the Cyprus Securities and Exchange Commission (CySEC) has just informed the public that, at its meeting held on 20th November 2017, decided to impose a total administrative fine of €20.000 on the ASP Chesterfield Corporate Services Ltd for noncompliance with: Sections 58(a), 58(c) and 58(e) of the Prevention and Suppression of Money…

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SFC fines
February 08, 2018 BY Valentina Kirilova

SFC reprimands and fines Credit Suisse (Hong Kong) $39.3 million

The Hong Kong Securities and Futures Commission (SFC) announced that it has resolved its concerns with Credit Suisse (Hong Kong) Limited (CSHK), Credit Suisse Securities (Hong Kong) Limited (CSSHK) and Credit Suisse AG (CSAG) (collectively, Credit Suisse) over internal control failures. Under the resolution, the SFC reprimanded and fined Credit Suisse a total of $39.3…

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CySEC fine
February 06, 2018 BY Valentina Kirilova

CySEC fines CIF licensed Hoch Capital Ltd €30,000

The Board of the Cyprus Securities and Exchange Commission (CySEC) has just informed that, at the meeting held on 20th November 2017, it decided to impose an administrative fine of €30.000 to the CIF Hoch Capital Ltd (‘the Company’). The fine has been made due to non-compliance with section 36(1)(a) of the Investment Services and…

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SFC fines
February 06, 2018 BY Valentina Kirilova

Wedbush Securities fined $1.5 million for customer fund protection issues

The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Wedbush Securities Inc. $1.5 million for violating the Securities and Exchange Commission’s (SEC) Customer Protection and Net Capital Rules, and for related supervisory and books and records failures. The SEC Customer Protection Rule creates requirements to protect customers' funds and securities. To ensure…

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